A new exhibition center will be built ahead of the international Arctic forum to be held in Arkhangelsk in 2019. The project will cost 342 million rubles, RIA Novosti reported citing the press service of the regional government.

Last November, the regional investment policy and competition commission included the exhibition center project on the list of priorities for Arkhangelsk. The Arkhangelsk Ministry of Property Relations rented out 28,000 square meters of land for a period of ten years. The investor plans to build an exhibition space on 2,437 square meters.

A geological survey is currently underway at the allocated plot of land. It will provide data for the project which is expected to be completed in 2018.

"The new exhibition center will be used for a whole variety of purposes. It will host trade fairs, forums, conferences, seminars and sports competitions. Of course, we hope to use the center as a venue for the international Arctic forum," Governor Igor Orlov said.

The construction company's CEO added that the center will comprise two buildings, one of which will occupy 1,500 square meters. This will be suitable for exhibitions, conferences and also sports events.